IPO-bound Pine Labs CFO quits

11 Jun 2025, 08:04 PM

March Mathenz, who operated out of Singapore along with Pine Labs CEO Amrish Rau, is expected to leave the organisation in the coming weeks.

Team Head&Tale

IPO-bound payments firm Pine Labs' group chief financial officer Marc Mathenz has reportedly resigned from his position at a time when the company is planning to file its draft IPO (initial public offering) papers.

Mathenz, who operated out of Singapore along with Pine Labs’ chief executive officer Amrish Rau, is expected to leave the organisation in the coming weeks, Moneycontrol reported.

In 2021, Mathenz joined Pine Labs as CFO, replacing Sameer Maheshwary -- who has spent over six years at the point-of-sale company. Maheshwary was moved internally and made the senior vice president of capital markets.

The company -- which is planning $700 million-$1 billion India listing -- is expected to file its IPO papers with Sebi soon. 

Last year, Pine Labs’ chief revenue officer, Navnit Nakra, also resigned from the company, a development exclusively reported by The Head and Tale. The reason for his departure is not known yet.

Nakra – who previously served as OnePlus India CEO – joined the Noida-based payments company last year. He was responsible for “developing and executing growth strategies, new business generation, streamlining processes to attain efficiencies and maximizing revenue streams for the payments business in India.